Nixon Peabody Trust Co. Has $9.48 Million Holdings in Elevance Health, Inc. (NYSE:ELV)

Nixon Peabody Trust Co. raised its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 82.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,805 shares of the company’s stock after buying an additional 9,846 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Elevance Health were worth $9,484,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $26,000. WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $29,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ELV has been the topic of a number of research reports. Argus set a $465.00 price objective on Elevance Health in a research report on Friday, April 25th. Barclays lowered their price objective on Elevance Health from $522.00 to $480.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial boosted their price objective on Elevance Health from $480.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Sanford C. Bernstein restated an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Guggenheim restated a “buy” rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $499.53.

Insider Transactions at Elevance Health

In related news, CFO Mark Kaye sold 4,588 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer now owns 18,977 shares in the company, valued at $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Ronald W. Penczek sold 443 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $378.81 on Wednesday. The business’s fifty day moving average price is $412.34 and its two-hundred day moving average price is $401.05. Elevance Health, Inc. has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The stock has a market capitalization of $85.59 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping the consensus estimate of $10.60 by $1.37. The company had revenue of $48.77 billion for the quarter, compared to analysts’ expectations of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 10th. Elevance Health’s payout ratio is presently 26.69%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.